Co-op members set for £50.4m

The profits dividend paid to the 5.1m members of The Co-operative Group will be 30% higher than last year.

Britain's largest mutual retailer will announce today members will share a total of £50.4m for 2009, compared with £38.8m the previous year.

Members receive a cash payment based on the points they earn when they trade at any of the group's businesses, which include The Co-operative Food, Travel, Pharmacy and Funeralcare as well as Co-operative Bank and Co-operative Insurance.

Based on the group's profits of £402m the value of each point earned during 2009 was 2p.

The payments will be paid in the form of vouchers or into a bank account.